A cross practice team from Cains is advising Unikmind Holdings Limited (“Unikmind”) on its cash offer for Kape Technologies plc (“Kape”), an Isle of Man company listed on AIM. The cash consideration for the offer is to be financed by a combination of new debt and equity financing with an implied equity value for Kape of US$1.5 billion.
The Cains team, which was led by corporate director Tristan Head and finance specialist Stephanie Chew with assistance from Matthew Wilkinson and Holly McGarrigle, worked in conjunction with Baker & McKenzie LLP.
VPN provider Kape is the owner of brands including Express VPN, CyberGhost and Private Internet Access. Unikmind, which at the time of the offer, held approximately 54.8% of the shares in Kape, is wholly owned by Teddy Sagi, the founder of gaming software group Playtech.